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NT Bureau
Chennai, May 22:
 

        Batliboi has come up with excellent results for the year ended 31 March, 2007. The total turnover ( including indirect sales from agencies) of the company grew by 16 per cent to Rs 30, 649.43 lakh as against Rs 26, 348.08 lakh for the previous year.

        The total income of the company grew by 27 per cent at Rs 13,247.97 lakh as against Rs 10,397.02 lakh in the previous year. The profit before tax of the company shot up by 56 per cent to Rs 1, 988.19 lakh from Rs 1,274.15 lakh during the previous year. After considering the provisions for Fringe Benefit Tax of Rs 37.99 lakh ( previous year Rs 48.58 lakh), Deferred Tax Liabilities of Rs 55.70 lakhs ( previous year Rs 256.41 lakh) and Current Tax of Rs 572.62 lakh ( previous year Rs 112.46 lakh) the company's Net profit has increased by 54 per cent to Rs 1, 321.88 lakh from Rs 856.70 lakh in the previous year. The earning per share jumped up to Rs 9.76 per equity share from Rs 6.35 per share.

        The board at its meeting has recommended higher equity dividend of 20 per cent for 2006-07 against 15 per cent in the previous year.

        In persuasion of its strategy of inorganic growth, the company recently completed strategic acquisition of 100 per cent shareholding of Quickmill Inc, a growing and profitable machine tool company based in Peterborough, Ontario Canada for Rs 22 crore.

        The company has also announced the amalgamation of an associate company, Batliboi SPM Pvt Ltd (BSPMPL) with the company. BSPMPL manufactures Special Purpose Machine Tools mainly for automobile and auto component industry and possesses excellent design and engineering capabilities. The merger would bring in synergies and economics of scale through consolidation.